Williamstown Retirement Community to Be Sold Off
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| Sweetwood Continuing Care Community in Williamstown. [Photos by Paul Guillotte] |
The 70-unit luxury housing complex is being sold off because it doesn't fit in with its parent company's commitment to health care.
Executive Director Mark Amuso said on Thursday that residents and staff at Sweetwood have been aware of the decision for a month and that they look forward to a smooth transition.
As health system officials were reviewing its portfolio as it related to NBH's mission, "Sweetwood really stood out," said Amuso because it is not directly related to health care.
NBH purchased Sweetwood and neighboring Sweet Brook Care Centers in 1999 from the family of founder Dorothy Hickey for $16.3 million. Sweet Brook Nursing Home was established by Hickey in her home in 1948, then moved to a new facility on Cold Spring Road in the late 1960s. Sweetwood opened nearby in 1987.
But Sweetwood is not an assisted living facility, despite the "continuing care" added to its name by NBH. The independent living community is designed for self-sufficient seniors who desire the amenities of a full-service facility near a host of cultural attractions.
It includes restaurant-style dining, a bank branch, a library, an auditorium offering lectures and entertainment, fitness center, beauty parlor and services such as grocery shopping.
<L2>"It's a lot like living in a really nice hotel," said Amuso, who was business manager for the Mount Greylock Regional School District before joining Sweetwood a year ago. "We literally do everything. It's a really nice place to live."
In fact, some hotel chains operate similar residences, he said.
While not an assisted-living facility, Sweetwood residents do avail themselves of some NBH services and have priority for placement in Sweet Brook.
In a statement, NBH officials said they had retained a firm to assist in the marketing and sale of Sweetwood and that the board of trustees "has determined its primary responsibility is to focus on its core business of health care services."
The firm, out of New York, is evaluating the land and buildings to determine a sale price.
The health system saw its first year in the black in some time last year, ending fiscal 2007 with a surplus of $325,000. The good fiscal news is expected to continue this year, officials said.
In addition to Sweetwood and Sweet Brook, NBH is the umbrella organization for North Adams Regional Hospital, Visiting Nurse Association and Hospice of Northern Berkshire and Reach Community Foundation.
Currently operated under a non-profit status, a new owner could put the pricey residence on the tax rolls for the town.
Amuso said the intent is that a new owner will accept the contracts of current tenants, who pay an entrance fee $250,000 to $450,000 (most of which is returned when the contract ends) and a monthly maintenance fee. NBH also said any sale would include a way to continue to provide the limited health services offered through the VNA.<R4>
NBH officials said they will look for a suitable organization with specific expertise in retirement community management, and sensitivity to the culture and priorities of North Berkshire County.
Amuso didn't think the retirement community would stay on the market long.
"This is a growing buiness, especially with the baby boomers beginning to retire," he said. "This is a business that's going to grow for a long time."
